General Dynamics Corporation $GD Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC grew its holdings in shares of General Dynamics Corporation (NYSE:GD) by 12.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 26,942 shares of the aerospace company’s stock after purchasing an additional 2,977 shares during the quarter. Private Advisor Group LLC’s holdings in General Dynamics were worth $9,247,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Optas LLC grew its stake in General Dynamics by 11.1% during the 1st quarter. Optas LLC now owns 1,761 shares of the aerospace company’s stock worth $604,000 after buying an additional 176 shares during the last quarter. Leonteq Securities AG raised its stake in General Dynamics by 35.4% in the first quarter. Leonteq Securities AG now owns 5,360 shares of the aerospace company’s stock valued at $1,840,000 after buying an additional 1,400 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in General Dynamics by 59.9% in the first quarter. Elevation Point Wealth Partners LLC now owns 14,397 shares of the aerospace company’s stock worth $4,941,000 after acquiring an additional 5,394 shares in the last quarter. Platform Technology Partners acquired a new stake in General Dynamics in the first quarter worth about $333,000. Finally, Jamison Private Wealth Management Inc. grew its stake in shares of General Dynamics by 2.7% during the first quarter. Jamison Private Wealth Management Inc. now owns 10,190 shares of the aerospace company’s stock worth $3,497,000 after acquiring an additional 269 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Citigroup dropped their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a report on Thursday, June 11th. UBS Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. Finally, Wells Fargo & Company assumed coverage on General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $373.34 on Monday. General Dynamics Corporation has a twelve month low of $292.34 and a twelve month high of $373.60. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market cap of $100.96 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 2.31 and a beta of 0.34. The company’s 50 day moving average is $344.97 and its 200 day moving average is $348.40.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.66 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 40.03%.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.